Shark Tank star and billionaire investor Kevin O’Learypredicts that the value of Bitcoin (BTC) will rise once a clarity is provided by the regulators.
In a recent interview with Stansberry Research, O’Leary stated that he thinks Bitcoin could appreciate several times the current price once institutional investors are allowed to buy crypto assets.
“Somewhere in the next two to three years, US regulators will dominate cryptocurrencies. And they will dominate stablecoins and Bitcoin itself first… And very large assets relative to market cap.
As soon as that happens, if I’m running a government fund or retirement plan, I’ll probably be putting aside between one and three percent. And when this happens bitcoinI want to invest in long term.
If you want to talk about Bitcoin going to $100,000, $200,000, $300,000, that’s a scenario that can happen when institutions can finally buy it.”
According to the Shark Tank star, institutional investors need regulatory compliance and meeting Environmental, Social and Governance (ESG) standards before investing in Bitcoin.
“I can tell you with certainty right now because I serve sovereign wealth funds, pension plans, and the indexing business. Bitcoin (BTC) for all the hype around, none of these institutions have a single coin.
Nor won’t they do so until compliance departments allow ESG mandates to “tick the box on this matter” and of course be compliant in the asset class itself. But when they keep it up, the coin’s price will rise dramatically.”
O’Leary says institutional investors will find it easy to buy Bitcoin if it’s classified as software.
“If you think Bitcoin is software, which it is, and these institutions are owned by Microsoft, owned by Google. These are also software. So it’s easy for them to get their head around this as soon as they’re compatible. They will buy one to three percent. And then the price will be appreciated. And I think that will happen in the next 2-3 years.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.